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the president what s your plan, senator harry reid are you going pass a budget. i really do believe that the president and the democrats really have no intention and as a result have no plan to limit the rate of growth in government and no plan to save social security and medicare and we need to start putting political pressure on them to show the american people a plan. the house passed two budgets since i have been here. they both include some proposal to save medicare. the democrats have not done that and this is really where we start turning the messaging on them and start demanding. i think the american people have a right to know, president obama are you going so solve the 92% or 93% of the deficit. what is it that you talked about on the campaign trail? >> sean: how can you help me he out or help the american people out. they don't know what taxes will be in a couple of days and now we are counting the hours. how is it possible the u.s. senate does not pass a spending bill which constitutionally they are supposed to pass in over three years, over 13 hyundais and then elect th
and listen to what senate majority leader harry reid is saying. >> we really are running out of time. americans are still threatened with a tax hike. in just a few hours. i hope we can keep in mind and i know we will our single most important goal is to protect middle class families. whether or not we reach an agreement and the short time we have left we'll need cooperation on both sides to prevent taxes from going up tomorrow for every family in america. i repeat there is still some issues that need to be resolved before we can bring the legislation to the floor. >> under the previous order then the senate will proceed to business until 12:00 noon. this is for debate only. senators are permitted to speak -- >> there you go. the senate floor. we are listening to them as senate majority harry reid opened it up for today after they called it a day yesterday. joining us now is congressman steny hoyer, the house minority whip. thanks for being with us. i appreciate your time. you listened to our report from mike viqueira. you just heard senate majority harry reid. he spoke. from what you
the senate majority leader, harry reid, says we've just about run out of time. >> if we go over the cliff, and that's where we're headed, mr. president, the house of representatives as we speak with four days left after today before the first of the year, aren't here with the speaker having told them they'll give them 48 hours notice. i can't imagine their consciences, out wherever they are around the country and we're here trying to get something done. >> we're awaiting reaction from the senate minority leader, mitch mcconnell. when that happens we'll go live to the senate floor but a spokesman for john boehner says senator reid should talk less and legislate more. the house passed legislation to avoid the fiscal cliff. senate democrats have not. if the president and lawmakers cannot reach a deal in the next five days, automatic tax hikes and major spending cuts are set to kick in and economists warn that could trigger another recession. what else are we hearing from democrats on the hill? >> trace, very interesting comments from vice president joe biden up here for an unrelated matter a
know washington very, very well. we've been trying to read the tea leaves today. harry reid was out with a twitter -- a tweet early on, and then they were scheduling a news conference that. got cancelled. it got moved. now suddenly we're hearing that the house is he convening. what do you make of all the tea leaves we're reading right now? >> it's extremely chaotic and reminds me of the arguments between my two young daughters as to who is going to empty the dishwasher, except there's 500 billion in negative fiscal impulse in play here. i thought lee put it very well. the issue at this point, seems to me, i mean, it ain't over till we're over, but it seems to me is this going to be a chaotic cliff dive or more of a bungee jump wherein there does seem to be the makings of a deal. as i've described on our show before, there are technical matters that actually make it easier for republicans to support a compromise deal like the president's last offer after we go over. >> wait a minute. you don't necessarily see any of the developments today as progress per se? >> no, i don't. in fact,
harry reid who says he's cautiously optimistic about reaching a deal but warns there's not much more negotiating that can be done on his end. >> i don't have a counter offer to make. perhaps the day wears on, i will ble to. i will say that i think that the republican leader has shown good faith. it's just we're apart on pretty big issues. >> that was earlier. let's get the latest now because it's changing minute-by-minute. mike emanuel kicks off our fox team coverage live from washington. harry reid said negotiations continue. where do we stand? >> senator reid seemed to be looking ahead to tomorrow's schedule. talks continue but a deal is not implement. another said there's a chance one could be reached tonight. harry reid and mitch mcconnell are the key players. he sounded frustrated after not receiving a counter-offer. a key member of the leadership team offered this update. >> offeringses and discussions between and we remain hopeful that will get a breakthrough. obviously what happened here between the two leaders in the senate had broken down because the senate democrats failed
, it's up to the senate. staffers and a majority leader harry reid, minority leader mitch mcconnell are trying to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part ofhe discussion. that is significant development r house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotiate
. >> reporter: with that harry reid and mitch mcconnell launched a last-ditch effort to craft a bipartisan plan to that would at the very least, protect most people from a big tax hike going into effect on new year's day. the senators and their staffs negotiated all day saturday. saturday night republican leader mcconnell made his offer. by this morning, a clear sense of optimism and warnings that failure would be unthinkable. >> there are certainly no breakthroughs yet, but there's a real possibility of a deal. >> if we are not able to reach an agreement, it will be dire. >> reporter: but the morning's optimism turned into the afternoon's pessimism. the senate opened for business at 1:00 p.m. with the ominous prayer from the chaplain. >> look with favor on our nation and save us from self-inflicted wounds. >> reporter: soon democratic leader reed acknowledged he had not been able to make a counteroffer to republicans. >> it's just that we're apart on some pretty big issues. >> reporter: grfrt -- frustrated with the impasse, republican mcconnell said he called vice president biden, urging him t
and schedule a vote. so the pressure is on for senator majority leader harry reid, and mitch mcconnell, be sure no republicans block the bill. for house speaker john boehner to agree to bring it to a vote on the house floor and leader nancy pelosi to predict a huge number of democrats needed to pass it. but if that plan falling through -- >> then i will urge senator reid to bring to the floor a basic package for an up or down vote. >> reporter: the president's basic package has much more for democrats to like. so don't expect that to get very far, but all sides now agree the senate must first pass a bill before the house makes any kind of move. so all eyes will be on mitch mcconnell and harry reid and their negotiatorsoled up on capitol hill. the senate comes back into session at 1:00 on sunday. christi, alison? >>> and the cliffhanger continues. jessica yellin, thanks. >>> and january 1st is the deadline to make a deal on the fiscal cliff. for some states, it's a day that a series of new laws are going to take effect. let me get you clued in here. in california, talking more than 800 new laws,
will be on mitch mcconnell and harry reid and their negotiators holed up on capitol hill. the senate comes back into session at 1:00 on sunday. >> jessica yellin, thanks. >>> and with the pressure now squarely on the senate to fix the fiscal cliff, they will lead the talks this weekend. a period of time reid calls, quote, very important, mcconnell says he's hopeful both sides will have a plan to present to their respective members as early as tomorrow. and other republican and democratic senators are underscoring the importance of reaching an agreement soon. >> if we don't have a deal within the next 24 hours, the question is, where do you buy a parachute? looks like we'll be going over the cliff. the closer we get to the end, the less likely it is you're going to be able to compress an agreement in to place that will have enough votes to pass. >> when the dust settles and everything's said and done, federal individual income taxes are not going to go up on almost all americans next year. that will either be settled this weekend by our votes or settled after the first of the year. that's the mo
-term economic problems. after a moment of spiritual clarity on friday afternoon, harry reid is working on a bipartisan deal ostensibly with his republican adversary mitch mcconnell. >> -- engaged in discussions, the majority leader and myself and the white house, in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. >> well, if the senate manages to reach a compromise, the hope is that the house would follow. that's option one. the green one. option two is less certain. president obama reportedly challenged congressional leaders from both parties on friday to come up with a deal better than the one he proposed. the center piece of which is that the top marginal tax rate will increase for those earning $250,000 or more from 35% to 39.6%. that's only on the amount earned above that threshold. obama has told congress either they come up with something better or put his proposal to a vote. he's betting even those who hate the idea of a tax increase on the rich will hate causing
. according to harry reid, they are still waiting for cbo, they have to get a prize take price e congressional budget office on the deal put on the table. i am not sure if richardson is in place, but this is the deal that we have been talking about throughout the day at fox business, that would raise taxes on individuals risen $400,000 or more. married couples $450,000 or more, as we learn later this evening this is the same deal that will have a buy down. keep the sequestration, the spending cuts that take place at 12:01, put on hold for two months, but that won't happen until you have to have the senate passed it an in the house passed it. we have seen no movement in the house because the house has not been given any details or any paper as they would say as to deal the senate is looking at right now. you're seeing a live picture outside one of the meeting rooms, this is the ohio clock, this is where usually get statements from harry reid and different members of the senate, but we did receive a message from charles schumer a vote taking place but midnight on the deal of earning the big tax
these prevent it, in control of whether or not your taxes go up come new year's day. harry reid, minority leader mitch mcconnell, house speaker john boehner and house democratic leader nancy pelosi met at the white house yesterday afternoon with the president and vice president. here's where things stand right now. the senate leaders are meeting aiming to avoid tax hikes. and they may vote on a deal sunday or perhaps on monday. jessica yellin is our chief white house correspondent. lisa day jar dayne is on capitol hill. the president used his bully pulpit to reinforce the idea that senators need to get busy. so let's listen. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable, why everything always has to wait till the last minute. we're now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy. not right now. >> so jessica, you were
through the emergency measures we needed. in fact, when george bush came to harry reid and nancy pelosi in late 2007 and said the economy is slipping, i need a stimulus, they worked with him to do it. it was when barack obama got elected that the republicans followed mitch mcconnell's declaration that defeating the president was his number one agenda item. deadlock came in when the american people decided, as they have obviously every right to do, that they didn't like the people they voted for in 2008, and we're going to vote for diametrically opposed people in 2010. but if you look before that happened, before 2011, you've got a pretty functional system. the problem is not structural. it's who the people are. i do believe that as a result of the 2012 election, some of those who were elected who really don't believe in governance, are losing their ability to screw things up. >> mr. congressman, i know we'll have you back again. but it will be as a participant in the private sector debate. congratulations on everything. happy new year. >> thank you. >> congressman barney frank from wash
temporarily. >> wait a minute, jared. john boehner said it's up to the president and harry reid so are both sides standing at the precipice waiting for each other to make the next move. >> not really. it really is all up to john boehner to decide whether he wants to bring this vote to the house floor. if he doesn't, i would put on either your cliff bungee cord or your cliff parachute and that's actually an important difference. >> we would like a bungee cord and a parachute. >> right. >> but i would like to know maybe we have neither. what do you think happens to the market, matt, in either scenario, deal or no deal? >> i can't imagine we're going to get a deal done with any significance. you know, they are probably going to change it as we go forward so maybe they will let us go over the cliff, the market will crash a little bit. i don't want to say crash as in crash but we could retrace some of the gains and a rough start to 2013 until they finally realize that maybe the large-cap companies could be leading us through the rallies. maybe it will take the stocks back up the latter half of 2
sent a letter to the honorable harry reid majority leader. and that's where he outline it is fact that in three business days, the summit government is going to run out of borrowing capacity. john, if there were a treasurer in a business who went to their boss and said by the way, three business days, the working capital account dies and as a result, you are not going to make payroll next week, that person would be fired. we get three days notice about hitting the debt ceiling? that seems absurd to me. >> it is not a surprise.rise we have known we were coming to this point and there are two months more -- geithner estimated in that letter that the ways in which the federal government can manage money will give about would months worth of head room, possibly even longer. february or march or -- where we really get to the -- rubber hits the road on that issue. so -- this is not a shock to anybody in government but the publication of this letter and the elevation of the issues in attempt was done in 2011. there was an early moatfication by treasury this was about to happen, trying to
. senate majority leader harry reid has said if they don't reach something by monday he'll bring forward a bill to help out the middle class for an up-and-down vote. >> right. >> put everybody on the record, but especially republicans. isn't that the tactic? >> exactly right. the step before that is harry reid is working on some bill that might get bipartisan support in the senate. president obama in that meeting apparently told them try and work something out. and reid left and made a statement last night, as did mcconnell, that they're going to try and work something out. the best-case scenario is that sometime tomorrow they are able to put it to the senate and then it quos to the house, and then there's a real bill that sounds like a compromise. it's not the grand bargain we were all looking for. it will be some kind of deal to stop going over the cliff. option two is what we're talking about here, that those two can't get a deal and they put something forward and everybody in the senate and subsequently hopefully in the house gets to say yea or no to it. you're on the record. if you
. >> clayton: they all said the same thing. presidential meeting with the leaders yesterday. harry reid. >> juliet: vice president showed up. >> clayton: they must have been all on the same table hey whether we lee this table we will say modestly optimistic. listen to senator mitch mcconnell who may be the linchpin of this whole thing. he said i will take the ball and run with it in the senate. get a deal done. listen to the senator. >> we had a good meeting at the white house. we are engaged in discussions the majority leader and myself and the white house in the hopes that we can come forward sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. we will be working hard to see if we can get there in the next 24 hours. so i'm hopeful and optimistic. >> charles krauthammer calling him a master negotiator. saying if it were left up to him he could solve the syrian civil war in a weekend. >> dave: he can get it done but there is still john boehner and the house republicans. i'm not modestly optimistic. anything through the hou
and the senate to show us your plan. hey, harry reid, how about passing budgets for the first time in three years. how about being willing to be held accountable for a change. >> these are all great fiscally prudent managerial notions as a former businessman, i expect nothing less, but senator johnson, you know you're not going to get all that. and i guess my question is will republicans in the senate hold up a debt ceiling unless and until let's say they get a spending sequester or substitute or something that you can get your arms around. >> well, certainly what i'm going to be pushing for, larry -- one of the things i've been pointing out is we've had this revisionist history that said the last debate resulted in a debt downgrade because of the messy debate. that's not what caused the debt downgrade. what caused that debt downgrade is the fact that the debate did not result in a solution to the problem. when president obama unbelievably said we're not even going to have a debate this time. oh yes, we are, mr. president. because every time you come to congress and you ask for the authority to i
in the hands of the two senate leaders. democratic harry reid and republican mitch mcconnell. they're working on a mini-deal that would prevent a tax increase for roughly 98% of american workers. extend unemployment benefits that are set to expire for some 2 million people. and prevent a huge cut in payments to medicare doctors. what took so long? >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. >> reporter: the 11th-hour effort to get a deal comes after the president met with the congressional leaders at the white house. it was his first such meeting in six weeks. even as mcconnell and reid come to an agreement, there's no agreement it will pass before the end of the year. the agreement represents what the president says is the bare minimums. extending tax cuts while doing nothing to curb spending or address the long-term deficit crisis. if they fail to pass a mini-deal, virtually everybody's income taxes will go up. and even if the income tax cuts are extended virtually all workers are due to see less in their pa
harry reid and said, pardon me, "go f yourself" and then repeated it and bragged about it, according to political sources. first of all, have you heard about this? and if this is the level of animosity, what hope is there a couple months down the road when these issues come up? >> i don't know if he said that and i don't know if he did say it whether or not that represents in some way the level of animosity. unfortunately in these kinds of situations, often times people do say things and they say them in ways that others may seem unacceptable and this goes on whether or not it's in the capital, in the newsroom, on plathe playground. it just happens to be the way that sometimes americans express themselves. i don't know that he did that way. >> congresswoman maxine waters, it is good to you have on the program. thank you very much. >> you're certainly welcome. >> while the house approved this deal, there was no deal to send aid to the victims of hurricane sandy. let me play for you what republican congressman steve latourette said this morning. >> the same chuckle heads who j jet jeti
to meet with house speaker john boehner, minority leader nancy pelosi, senate majority harry reid and minority leader mitch mcconnell. that is happening this afternoon. jessica yellin is there. jess, what do we know about the president's plan to get everybody in the same room? do we think there's going to be something that comes out of this? >> reporter: well, this is one of those cases where we really are going to have to wait and see, and all the parties involved are also going in with a big question mark. the idea is the expectation by many of the participants in the meeting is that they hope that they will be able to discuss more details about a scaled-down fiscal cliff plan. and maybe that could lead to some sort of agreement ideally for all parties in which all the senators say that they will not filibuster it, and it can go to a vote. and then speaker boehner could, in theory, agree to bring it to a vote on the house floor after the house comes back on sunday. and then we would get all of this behind us before new year's eve. how likely does that sound? not so likely. >> yo
leader harry reid called speaker boehner, that speaker boehner was running dictate toreship in the house. speaker boehner to his face to harry reid, go f yourself and used three other letters. harry reid said back to boehner. what are you talking about. boehner repeated verbatim, go f yourself. this is indication of the poison atmosphere up here. when the sequestration runs out next few months and congress must vote to increase the debt ceiling. it appears speaker boehner is fwirding for a fight on both fronts in a statement that he issued last night. he said in part, quote, now the focus turns to spending. the american people reelected a republican majority in the house and we will use it in 2013 to hold the president accountable for the quote, balanced approach he promised. meaning significant spending cuts and reforms to entitlement programs that are driving our country deeper and deeper into debt. the president last night indicate he is open to come promy to spending cuts but drew a line when it comes to the debt ceiling. here's the president. >> now, one last point i want to make. w
was made. a very interesting part of the story i think that political is reporting. harry reid and john boehner met, and john boehner greeted harry reid by saying -- he went full cheney -- he said go f yourself. harry reid responded what are you talking about? and boehner repeated go f yourself. >> bill: republicans said that in the white house? >> in the white house. >> bill: george bush would not have been happy with that. he maintained a stricter level of decor um around the oval office. is it worth it? yeah, probably. i would have voted for it. it doesn't give us everything we wanted. crazy -- insane to define middle class americans as anybody making under $400,000 a year. the bad news is this is only going to give us temporary relief. we'll be back into in another month, in another two months, maybe two different battles coming up, and that means this gang of republican hoods in the house of representatives will still be able to muck up the mess. i don't know if it is possible for congress to get a zero approval rating but they are well on their way. it was 9 t
to keep tax rates low for everyone. it has been dead in the senate. harry reid won't take it up. after the election john boehner got criticism even from my party saying look, mr. president we will meet you halfway and give you the $800 billion in revenue and the president doubles the number. then last week he said all right let's try and get as many after hostages out alive and try as keep taxes from going up and we couldn't get a single democrat to join with us on a single bill introduced this summer which was saving all taxpayers a million dollars and below from the tax rates going on. not a single democrat would join with us. this didn't a problem of two well intentioned negotiators not able to come up with a deal. this is the house having to negotiate with itself and the president who i believe is beginning to show his cards which is someone who doesn't really want to deal, who for whatever reason believes that it is to his political benefit or are a potential gain for us to go over this cliff to try and make us look obstinate in the house. >> greta: i have the president's statemen
confirmed speaker john boehner told senate majority leader harry reid to, quote: f himself twice after reid had said boehner was running the house like a dictatorship and said boehner was essentially more worried about keeping his own job than trying to strike a deal. so much for the christmas cheer. jon? >> jon: it didn't last long. thank you, mike. mike emanuel, thank you. the future of those spending cuts may be up in the air. for now at least wall street is cheering big time. the dow soared more than 300 points to close above 13,400. that is the biggest one day spike since december of 2011. the nasdaq jumped 93. the s&p gained 36. team fox coverage continues with gerri willis from the fox business network now. gerri, these were broad gains among lots of different types of stocks. >> you bet. and the one you didn't mention, the small cap index posted its highest levels ever. so big gains for stocks. what was going on? well, stocks had been trading on uncertainty. we didn't know what tax rates were going to be. we didn't know what spending was going to be. with that confusion gone, stocks
are quiet about what comes next. but any deal that comes from harry reid and mitch mcconnell in the senate will ultimately have to make it through the republican-controlled house. now joining me is someone who knows that reality all too well, maryland democratic congressman chris van hollen, the ranking member on the house budget committee. congressman, thank you for taking the time. >> chris, great to be with you. >> absolutely. i want to talk to you first about sort of the mood. kelly o'donnell mentioned that this is a conversation happening between a very small number of people and house democrats largely not in that conversation. a huge moment before the holidays where john boehner was unable to bring his bill up. what is the mood in the house, both democrats and republicans? are you guys just playing wait-and-see? do you have an expectation that if the senate passes something, the house is at least going to take it up? >> well, that has to happen, as you just said, in order to get this done. the house not only would have to take up an agreement that came out of the senate, obviously,
symbolic and they'll come back and they'll pass it again because i don't see harry reid accepting any type of amended version of this. i think this is a take it or leave it offer to the house, and if they vote to leave it today, they're going to he wanted up voting to take it tomorrow or the day after. >> and, reid, you're take on that? if we don't get a bill out of the house the president has promised wait until the new congress is sworn in on january 4th and start the process all over again, so do you think the odds of a deal go up or down with the new congress? >> well, i think we're going to get the deal before the new congress comes in, but i think in the end of the day the odds probably increase given democratic gains in the last election. one of the interesting things, though, is this sort of discussion of the market's reaction and whether or not a big drop in the market like what happened after the tarp bill failed might spur people to action. we haven't really seen the market reacting that much. sure, it was down five days in a row last week to the week between christmas and new y
-led cavs at 6-23 against the harry reid wizards at 3-22. pay attention, kornacki. cleveland won. the final was 87-84. this even though cleveland's best player irving missed 9 out of 10 shots in the second half and missed 4 out of 6 free-throws with no one guarding him. >> ouch. >> as for my wizards, four turnovers in the final five minutes falling to 3 wins and 23 losses. >> pathetic. >> the bulls game of obama postponed because of snow last night. he's now making a final try with congress and there's no denying a new plan is in the works. even in the opening prayer to kick off today's proforma session in the house, the chaplain prayed for congress to make a deal. but they're now adjourned until sunday night and that is where we begin with nbc's white house correspondent peter alexander and mike vicquiera on the hill. >> reporter: when derek rose is back for the chicago bulls, trying to get those answers for you as soon as possible. >> thank you, i appreciate that. >> reporter: of course, the real question right now here at the white house is exactly what's going to happen over the course
-- >> they cannot cross over the threshold that has been built by grover norquist. >> well, harry reid says he is the reason there is no deal on the fiscal cliff. we're going to ask grover norquist himself if there's any room for compromise when he joins us live. you've got to stay with us right here on the "closing bell." we're now down 133 points on the dow. [ rosa ] i'm rosa and i quit smoking with chantix. when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these stop taking chantix and call your doctor right away. tell your doctor about any history of depression or other mental health problems, which could get worse while taking chantix. don't take chantix if you've had a serious allergic or skin react
're going over. senate majority leader harry reid thinks we are. there's two problems, one is is that procedurally and process wise we're running out of time practically to do something here depending on what comes out of this 3:00 meeting. it's the problem we've been facing for two years in washington, they don't agree on how to fix this thing. >> on very core principles. >> you're right. nobody wants to give up their long-held beliefs on this. >> manu, i do this a lot. we have a democrat on and i say, listen, if you got everything you wanted. if they were willing to raise taxes on everybody in their mother that you wanted, would you do any kind of entitlement reform? would you means test medicare for millions arsz and billionaires? the answer is no. i turn tow republicans. listen, if they had an epiphany, representative ryan is right, we should turn medicare to a vou voucher system, would you raise taxes on anybody? what's going to be different in the new year? it seems like we're going over the cliff because nobody wants to budge. >> i think it's going to be very unlikel
talks between mcconnell and majority leader harry reid stalled. >> discussions continued today on a plan to protect middle class families from tax increase tomorrow. there are a number of issues on which the two sides are still apart, negotiations are continuing as i speak. >> the agreement would set the threshold for extending the bush tax cuts at $400,000 for individuals and $450,000 for families. it would set the tax rate on upper income people at 39.6%. the rate under former president bill clinton. estates would be taxed at 40% above $5 million for individuals, and $10 million for a married couple. unemployment benefits would be extended a year as would the medicare doc fix it would permanently fix the alternative minimum tax. a big concern for republicans is there are no new spending cuts. >> history has a way of repeating itself. somehow washington never gets the message. here we are 30 years later on the brink of another crisis on new year's eve still addicted to spending money. >> last friday speaker boehner told his senate colleagues to see if they could find a by by bipartisan
if the republican and the democratic leaders in the senate, harry reid and mitch mcconnell, if they say that, there will be a significant bipartisan majority in the senate. the house speaker john boehner suggested at the white house meeting the other day that whatever passes the senate he would allow to come up for an up or down vote in the house of representatives. if he allows that to happen and the democrats are on board, there will be a need for some republicans to join those democrats in the house and pass it, and then the president would sign it into law. my expectation is that that would probably happen and there would be enough republicans to join democrats. yes, there would be some liberals on the democratic side and a lot of conservative it is on the republican side would vote nay, but there would be 218 votes in the house of representatives to pass it. then the president would sign it into law. it might not happen today. it could happen tomorrow. let's see what happens. i think there will be the votes, assuming the leadership's on board. >> all right. could you a lot of fast-movin
in the middle of this, i'm in both feet, happy man. >> because last week the sniping between harry reid and mitch mcconnell was pretty dramatic and many points downright unhelpful, and to somehow see joe biden go in there and i don't know what he did. look at that smile. i don't want fairy dust he's sprinkled all over the place but it helped. >> every minute he's spent in the senate he used yesterday. >> he used all that. >> truly an interesting thing on capitol hill. >>> a new year's eve celebration turning deadly in sacramento, california. fight at a sports bar spilled out onto the street where thousands were gathered for a fireworks show. two people were killed and others wounded. >>> the wilmington ten have been pardoned by the outgoing governor. they were convicted of fire bombing a grocery store in 19 2, sentences commuted in 197 and convictions overturned two years later and finally a pardon. governor perdue saying they were taint the by naked racism. >>> police in florida on the hunt for thieves armed with blow torches and cut their way into three safes. no word on how much jewe
leader harry reid will take home an annual pay of $194,000 after his raise. so those guys are getting a raise. and if you are counting on a tax refund in the next few weeks, the fiscal cliff could force you to wait just a little bit longer than usual. >>> checking our top stories. the nation is now 14 hours away from the fiscal cliff. sources tell us vice president joe biden and senate minority leader mitch mcconnell talked through the night and vow to keep these negotiations going on today. the gridlock in washington could also hold up your tax refund. you might have to wait until late march to file if congress does not approve a short-term fix for the alternative minimum tax in the next few days. same issue two years ago delayed the opening of tax season by four weeks to mid-february. >>> former president george h.w. bush is still in a houston hospital but no longer in intensive care. bush was moved to regular patient room on saturday to continue his recovery. the 88-year-old was initially hospitalized with bronchitis last month, came down last week with a stubborn fever. >>> parts
: the republican and democratic senate leaders negotiated all weekend long. the talks hit a brick wall. harry reid saying he was unable to even counter the latest republican offer. >> at this stage, we're not able to make a counteroffer. it appears that there are things that stop us from moving forward. >> reporter: that prompted mitch mcconnell to call for a lifeline. >> i also placed a call to the vice president to see if he could help jump-start the negotiations on his side. i want everyone to know i'm willing to get this done. but i need a dance partner. >> reporter: and with that, vice president biden has now emerged as a key player, playing a direct role in the effort to strike a last-minute deal. the key sticking points remain the same. the white house wants taxes to go up on those making over $250,000 a year. republicans want a higher income threshold. they want to keep the estate tax from going up. there's still no agreement on what to do about those automatic spending cuts set to go into effect on january 2nd. both sides have said the cost of failure is extremely high. >> if we're not ab
leader harry reid. >> everybody should hang loose. because we -- something may break and we'll be able to get something done. >> reporter: the top republican in the senate made clear he wanted to shake up the talks by changing players. >> i want everyone to know i'm willing to get this done. but i need a dance partner. >> reporter: mcconnell called on joe biden, who spent decades in the senate. and the vice president headed to the white house sunday. >> the vice president and i worked together on solutions before and i believe we can again. >> reporter: behind closed doors and working the phones, biden is described as democrats as playing the good cop as reid was more bad cop. >> there's still significant difference between the two sides but the discussions continue. >> reporter: it came not long after the president appeared on the "meet the press" and called out mcconnell and boehner on tax hikes. >> i think it's been very hard for speaker boehner and mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall package. >> reporte
, at least until noon tomorrow. that is when a new congress convenes and senate majority leader harry reid today is chastising the republican-controlled house for putting off the vote, even if it is just for a few days. here is what he said. >> there are tens of thousands of people, tens of thousands of people in new york, tens of thousands of people in new jersey, and other parts of the northeast, who have had their lives turned upside down. now, i am dismayed and really saddened that the house of representatives walked away last night, didn't even touch this after we spent so much time here on the floor doing something to help the beleaguered part of our country. >> and a joint statement about the sandy bill. it reads in part, this continued inaction and indifference by the house of representatives is inexcusable. when american citizens are in need, we come to their aid. the people of our states can no longer afford to wait while politicians in washington play games. and we have also learned that president obama has now reached out directly to governor christie of new jersey on the issue
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